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Iran offering Azerbaijan to jointly export agriculture goods (UPDATE)

Iran is proposing Azerbaijan to start the joint production of agriculture goods and export them to other countries.

The proposal was put forward by Iran's Agriculture Minister Mahmoud Hojjati during the Azerbaijan-Iran business forum in Baku May 16.

The minister said Iran and Azerbaijan could create joint ventures and implement joint investment projects in the sphere of agriculture.

"Azerbaijan and Iran could jointly use agricultural lands and produce the goods that could be exported to other countries," said Hojjati. "Azerbaijan could lease its cultivation areas to Iranian farmers for long terms."

He further noted that Azerbaijan could replace a number of imported goods with similar products from Iran, and Iran itself could purchase Azerbaijani goods instead of the products it currently imports from other countries.

Under the conditions of low oil prices, reducing dependence on oil is a priority for both countries, he added.

"Development of agriculture will make it possible to stabilize the two countries' economies," said Hojjati, adding that Iran and Azerbaijan have great potential to boost agriculture cooperation.

Moreover, Iran could share its experience in improving productivity in the agricultural sector, use of agricultural equipment and its technical maintenance, added Hojjati.

He believes that the two countries also need to sign a number of documents in agriculture and update a number of existing documents.